Raymond James & Associates lowered its stake in shares of Eagle Materials Inc. (NYSE:EXP – Free Report) by 4.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,973 shares of the construction company’s stock after selling 2,243 shares during the period. Raymond James & Associates owned approximately 0.13% of Eagle Materials worth $8,384,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Dark Forest Capital Management LP bought a new position in shares of Eagle Materials during the 1st quarter valued at about $26,000. Point72 Middle East FZE bought a new position in shares of Eagle Materials during the 4th quarter valued at about $31,000. Global Retirement Partners LLC lifted its holdings in shares of Eagle Materials by 681.5% during the 1st quarter. Global Retirement Partners LLC now owns 211 shares of the construction company’s stock valued at $32,000 after purchasing an additional 184 shares in the last quarter. Providence Capital Advisors LLC lifted its holdings in shares of Eagle Materials by 14,575.8% during the 1st quarter. Providence Capital Advisors LLC now owns 4,843 shares of the construction company’s stock valued at $33,000 after purchasing an additional 4,810 shares in the last quarter. Finally, Byrne Asset Management LLC bought a new position in shares of Eagle Materials during the 1st quarter valued at about $34,000. Institutional investors own 92.57% of the company’s stock.
Wall Street Analyst Weigh In
EXP has been the topic of several recent analyst reports. StockNews.com cut Eagle Materials from a “buy” rating to a “hold” rating in a report on Friday. Truist Financial lifted their target price on Eagle Materials from $195.00 to $220.00 and gave the company a “buy” rating in a research report on Monday, July 31st. Stephens reissued an “overweight” rating and issued a $230.00 target price on shares of Eagle Materials in a research report on Monday, August 21st. Raymond James lifted their target price on Eagle Materials from $176.00 to $193.00 and gave the company an “outperform” rating in a research report on Tuesday, August 1st. Finally, JPMorgan Chase & Co. lifted their target price on Eagle Materials from $190.00 to $200.00 and gave the company an “underweight” rating in a research report on Thursday, August 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Eagle Materials presently has an average rating of “Moderate Buy” and an average target price of $199.80.
Insider Buying and Selling
In related news, EVP Matt Newby sold 5,613 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $190.00, for a total transaction of $1,066,470.00. Following the transaction, the executive vice president now directly owns 21,819 shares of the company’s stock, valued at approximately $4,145,610. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Richard Ross Stewart sold 2,000 shares of the business’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $187.99, for a total value of $375,980.00. Following the completion of the sale, the director now directly owns 7,041 shares in the company, valued at approximately $1,323,637.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Matt Newby sold 5,613 shares of the business’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $190.00, for a total value of $1,066,470.00. Following the completion of the sale, the executive vice president now owns 21,819 shares of the company’s stock, valued at $4,145,610. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,613 shares of company stock valued at $1,624,730. 1.70% of the stock is owned by insiders.
Eagle Materials Stock Down 1.5 %
NYSE:EXP opened at $155.03 on Friday. The firm has a market capitalization of $5.49 billion, a price-to-earnings ratio of 11.83 and a beta of 1.35. Eagle Materials Inc. has a twelve month low of $111.08 and a twelve month high of $195.96. The stock’s 50 day moving average price is $174.60 and its two-hundred day moving average price is $170.13. The company has a quick ratio of 1.36, a current ratio of 2.68 and a debt-to-equity ratio of 0.92.
Eagle Materials (NYSE:EXP – Get Free Report) last posted its quarterly earnings results on Thursday, July 27th. The construction company reported $3.55 earnings per share for the quarter, topping the consensus estimate of $3.54 by $0.01. The firm had revenue of $601.50 million for the quarter, compared to analyst estimates of $603.11 million. Eagle Materials had a return on equity of 40.68% and a net margin of 21.82%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.82 EPS. Equities research analysts expect that Eagle Materials Inc. will post 13.9 earnings per share for the current fiscal year.
Eagle Materials Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 15th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend was Thursday, September 14th. Eagle Materials’s payout ratio is presently 7.63%.
Eagle Materials Company Profile
Eagle Materials Inc, through its subsidiaries, manufactures and sells heavy construction materials and light building materials in the United States. It operates in four segments: Cement, Concrete and Aggregates, Gypsum Wallboard, and Recycled Paperboard. The company engages in the mining of limestone for the manufacture, production, distribution, and sale of Portland cement; grinding and sale of slag; and mining of gypsum for the manufacture and sale of gypsum wallboards used to finish the interior walls and ceilings in residential, commercial, and industrial structures.
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